Royal Bank of Canada Cuts Stake in GFL Environmental Inc. (NYSE:GFL)

Royal Bank of Canada reduced its position in GFL Environmental Inc. (NYSE:GFL) by 8.5% during the 4th quarter, Holdings Channel.com reports. The firm owned 7,549,263 shares of the company’s stock after selling 698,312 shares during the period. Royal Bank of Canada’s holdings in GFL Environmental were worth $336,244,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Generate Investment Management Ltd purchased a new stake in shares of GFL Environmental during the fourth quarter valued at $15,041,000. Tobam purchased a new stake in shares of GFL Environmental during the fourth quarter valued at $1,846,000. Raymond James Financial Inc. purchased a new stake in shares of GFL Environmental during the fourth quarter valued at $18,836,000. Bleakley Financial Group LLC grew its holdings in shares of GFL Environmental by 9.9% during the fourth quarter. Bleakley Financial Group LLC now owns 7,954 shares of the company’s stock valued at $354,000 after buying an additional 718 shares during the last quarter. Finally, Quaero Capital S.A. grew its holdings in shares of GFL Environmental by 35.1% during the fourth quarter. Quaero Capital S.A. now owns 37,310 shares of the company’s stock valued at $1,662,000 after buying an additional 9,690 shares during the last quarter. 64.70% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on GFL. Scotiabank reissued an “outperform” rating on shares of GFL Environmental in a report on Monday, May 5th. UBS Group boosted their price objective on shares of GFL Environmental from $50.00 to $57.00 and gave the company a “buy” rating in a report on Friday, April 4th. Royal Bank of Canada boosted their price objective on shares of GFL Environmental from $53.00 to $56.00 and gave the company an “outperform” rating in a report on Monday, May 5th. Seaport Res Ptn raised shares of GFL Environmental to a “strong-buy” rating in a report on Tuesday, May 6th. Finally, Truist Financial boosted their target price on shares of GFL Environmental from $54.00 to $58.00 and gave the company a “buy” rating in a research report on Wednesday, April 2nd. One research analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $54.57.

GFL Environmental Trading Up 0.7%

NYSE GFL opened at $49.38 on Friday. The company has a market capitalization of $19.42 billion, a PE ratio of -37.12 and a beta of 1.08. The company has a fifty day moving average of $48.09 and a 200 day moving average of $45.93. GFL Environmental Inc. has a 1 year low of $30.57 and a 1 year high of $52.00. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.58 and a quick ratio of 0.58.

GFL Environmental (NYSE:GFL) last posted its earnings results on Wednesday, April 30th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.10). The business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.52 billion. GFL Environmental had a negative net margin of 7.54% and a positive return on equity of 3.50%. The business’s revenue was down 13.4% compared to the same quarter last year. Research analysts forecast that GFL Environmental Inc. will post 0.58 earnings per share for the current year.

GFL Environmental Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Monday, April 14th were given a $0.0154 dividend. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.12%. This is an increase from GFL Environmental’s previous quarterly dividend of $0.01. GFL Environmental’s dividend payout ratio is 1.23%.

GFL Environmental Company Profile

GFL Environmental Inc offers non-hazardous solid waste management and environmental services in Canada and the United States. It offers solid waste management, liquid waste management, and soil remediation services, including collection, transportation, transfer, recycling, and disposal services for municipal, residential, and commercial, and industrial customers.